After an 18-month investigation by the Insolvency Service, Christopher Farrington, Nicholas Edwards and Khan - all from Deloitte – were considered for disciplinary action on two different grounds regarding the administration of Comet.

The Insolvency Service said at the time the advisors accepted their appointment in 2012 despite potential for conflict of interest, and asked ICAEW to investigate Deloitte’s work.

A Deloitte spokesperson said, “As this matter remains subject to a confidential disciplinary process, it would not be appropriate for us to comment further."

ICAEW said, “Our disciplinary Byelaws preclude us from commenting on whether any matter may or may not be the subject of consideration by our Professional Conduct Department. Where such consideration results in disciplinary action being taken then a public announcement will be made.

“Although we cannot comment on any individual matters, those same byelaws state that a member shall be liable to disciplinary action if he commits any act or default likely to bring discredit on himself, the Institute or the profession of accountancy."

The original version of this article included as part of an ICAEW statement the phrase, “This includes a criminal conviction”. ICAEW wishes to clarify that none of the individuals named in the article has a criminal conviction, neither are they accused nor investigated for any criminal conduct. We have therefore withdrawn that phrase.